My three observations from an awful night in Indianapolis that ended all the Knicks’ momentum from what had been a feel-good 2014:

1. Memo to Tyson Chandler: It is time to play at an elite level now that big men Amar’e Stoudemire and Kenyon Martin are out at least a few games with sprained ankles. When Chandler removed himself the Jan. 5 game in Dallas with bronchitis in the first quarter, the Knicks proceeded to win five straight games, based on team defense.

Upon Chandler’s rusty return, the Knicks have lost two straight, including the 117-89 blowout loss to the Pacers, with the defense taking a big step back.

It’s not all Chandler’s fault, but he seems weak and a step slow on defense, getting easily outmuscled in the paint. Worse, Andrea Bargnani doesn’t seem to play with the same force when Chandler is on the floor. Bargnani didn’t rise to the challenge against the high-energy Pacers. Bargnani takes more responsibility when Chandler is out.

Both have to be big-time now as the Knicks start an eight-game homestand Friday night against the Clippers. They need Chandler to return to the form at which he started the season.

Chandler, who hit a couple of jumpers Thursday, looked extremely tired on the bench. It’s clear he isn’t fully over his sickness, and must avoid coming down with another infection before the playoffs – if they make the playoffs. The last two Aprils, Chandler got sick (flu, strep throat) and he wasn’t the same in the playoffs. It’s alarming.

Also alarming is the realization that this cursed club will probably never play with a full deck this season. To add to the Stoudemire and Martin injuries, rookie Tim Hardaway Jr. re-sprained his left wrist, an injury that dogged him all of July, forcing him to miss most of summer league. It’s unclear how serious the injury is: Hardaway said he would play Friday night, even as he was trying to put on a big black wrist brace.

The three injuries came when the Knicks were on the verge of having all 15 guys healthy for the first time this season for the Martin Luther King Day game at the Garden against the Nets. Point guard Pablo Prigioni and Metta World Peace are expected back.

2. Mike Woodson didn’t have any answers to Pacers coach Frank Vogel’s second-quarter moves to take the ball out of Carmelo Anthony’s hands. Anthony took a thinly veiled shot at Woodson afterward for not making any adjustments once the Pacers made theirs after the Knicks’ vibrant first quarter in which Anthony racked up 18 points.

It’s unclear how deep the dissatisfaction behind the remark goes. Anthony doesn’t seem too happy with Woodson’s handling of J.R. Smith either. Benching Smith in Charlotte on Tuesday, the second night of a back-to-back with the club on the five-game winning streak, probably didn’t win him points with a tired Anthony.

Chandler chimed in a similar sentiment about not reacting well to Vogel’s maneuvers.

“We were right there in the first quarter,’’ Chandler said. “We just didn’t make adjustments. They started trapping, doubling, closing down the paint. Early on, Melo had a great game, finding guys, we were playing off him. They kind of took it away from us, made us go elsewhere.’’

It underscores the notion heard from many scouts: Woodson doesn’t run a lot of plays. In other words, when teams take away their bread-and-butter, Woodson often doesn’t have an answer. Vogel outcoached Woodson in the second round last May and did so again Thursday. Vogel, who will coach the Eastern Conference at the All-Star Game, has a growing stature in the game. He’s well-liked by the media, very loose and chatty in his press conferences before and after the game.

The contrast in that area with Woodson was very noticeable. Woodson has become more tight-lipped this season — except when he’s on the radio show for which he gets paid.

3. Knicks point guard Raymond Felton often looked flustered, committing four turnovers. Felton had a strong playoffs last season, but a terrible Game 6 in Indiana when he didn’t have a field goal in the season-ending loss. Pacers starting point guard George Hill and backup C.J. Watson combined for one turnover.

The Knicks could have used the steady influence of Pablo Prigioni, who is being held out until Monday, though his broken toe has healed. The Knicks are overthinking the matter, wanting him to get in more conditioning work. Certainly he could’ve given the Knicks a good 15 minutes.